PRS RM500 & Free Insurans Nov 2015

7/21/2019 PRS RM500 & Free Insurans Nov 2015

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into another documents or other materials without the prior written consent of Public Mutual Berhad.33PRS – ISEQF NOV 2015

RM500.00Private Retirement Scheme (PRS) Youth Incentive•RM500 one-off contribution from the Government, whom accumulated a

minimum gross contribution amount of RM1,000 within a year •For Malaysian youths between 20-30 years old

•Valid from 2014 to 2018





• Syarikat Takaful Malaysia BhdInsurance

Company• 18 -59

• coverage will cease at age 60Coverage Age

• Minimum NAV of RM5,000 at

any one time (can beaccumulated from various PRSaccounts of Shariah basedseries of funds).

Eligibility

•

Up to RM100,000 per contributor

Maximum

Coverage

• Sum Cover is equal to the NAV ofunits held. RM1 coverage forevery RM1 NAV held.

Sum Cover

Free Takaful Coverage





Direct Commission

RANK Personal Personal / Group

Overriding

Total

UTC 2.00% - 2.00%

UTC-AS 2.00% 0.29% 2.29%

UTC-AM/CM 2.00% 0.47% 2.47%

UTC-GAM/SCM 2.00% 0.60% 2.60%

Benefits to PRC





Career Benefit

PSNAV

(All Rank)

CB rate

(Based on

PSNAV)

PSNAV

(All Rank)

CB rate

(Based on

PSNAV)

First 3 mil (3) 0.2100% Next 10 mil (45) 0.2700% Next 3 mil (6) 0.2200% Next 10 mil (55) 0.2800%

Next 4 mil (10) 0.2300% Next 10 mil (65) 0.2900%

Next 5 mil (15) 0.2400% Next 15 mil (80) 0.3000%

Next 10 mil (25) 0.2500% Next 20 mil (100) 0.3100%

Next 10 mil (35) 0.2600% Thereafter (>100) 0.3200%

Benefits to PRC





Career BenefitRank

(Based on GSNAV)Group CB

UTC-AS 0.0400%

UTC-AM/CM 0.0600%

UTC-GAM/SCM 0.0800%

Benefits to PRC





Introduction to Vesting Scheme(For Employers)


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What is “VESTING”?

•

Vesting is where an employer makescontributions on behalf of employees as

indicated in a Vesting Schedule.

• The employer has the option to allow theemployees to access the contributions

immediately or after fulfilling the

determined no. of years of employmentservice





Vesting Scheme: Straight Vesting

Straight VestingThe employees will gain 100%

ownership after a specific period

of service has been fulfilled.

Otherwise, the employees will

not be entitled to receive the

contributions made by theemployer on their behalf.





Sample: Straight Vesting Scheme

For illustration purpose only*Year End 1 2 3 4 5

Annual

Contribution

(Employer) - RM

5,000 5,000 5,000 5,000 5,000

NAV/U – RM 0.50 0.50 0.50 0.50 0.50

Units Allocated 10,000 10,000 10,000 10,000 10,000

Total Units 10,000 20,000 30,000 40,000 50,000

Vesting % 0% 0% 0% 0% 100%

Vested Units

(Employee)0 0 0 0 50,000

* The above table is for illustration purpose only. Sales charge, PPA fee etc. are not included.





Vesting Scheme: Revolving Vesting

Revolving VestingThe vesting period starts all

over again once the first

terms of vesting are met.





Sample: Revolving Vesting SchemeFor illustration purpose only

Year End 1 2

S

T

AR

T

O

VE

R

3 4

S

T

AR

T

O

VE

R

5

Annual

Contribution

(Employer) - RM

5,000 5,000 5,000 5,000 5,000

NAV/U – RM 0.50 0.50 0.50 0.50 0.50

Units Allocated 10,000 10,000 10,000 10,000 10,000

Total Units 10,000 20,000 10,000 20,000 10,000

Vesting % 0% 100% 0% 100% 0%

Vested Units

(Employee)0 20,000 0 20,000 0

Vesting Term: Every 2 Years





Sub-Accounts

Vested units are maintained in two separate sub-

accounts:

• Sub-account A – holds 70% of all contributions

made, reflected in units

•

Sub-account B –

holds 30% of all contributionsmade, reflected in units.

Unvested units are reflected only in sub-account A





Benefits for employers

Tax ReliefPromote loyalty

amongstemployees

Attract

employees

Retain

employees




into another documents or other materials without the prior written consent of Public Mutual Berhad46PRS – ISEQF NOV 2015

Contribute to PRS-ISEQF

You can choose to retire with PEACE OF MIND

PRS RM500 & Free Insurans Nov 2015

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